LONDON (Alliance News) - Housing maintenance contractor Lakehouse PLC on Thursday said Chief Executive Stuart Black has resigned from his role, days after it agreed to a shake-up of its board.
Lakehouse said Black had provided six months' notice, in line with his contractual obligations. The company has started the search for a new chief executive.
Black's departure follows closely from a change of chairman at the company. Ric Piper was appointed chairman earlier this week after Chris Geoghegan stepped down.
Geoghegan's departure had been called for by activist investors Slater Investments Ltd and Steve Rawlings. The company and the investors reached an agreement ahead of an extraordinary general meeting which had been due to take place earlier this week, with Geoghegan to leave and the three nominees made by Slater and Rawlings, including Piper, joining the board.
Lakehouse said Piper will work with Chief Financial Officer Jeremy Simpson and Executive Director Michael McMahon to ensure the business stay on track during the transition period.
Lakehouse will publish interim results on May 17.
Lakehouse shares were down 0.8% to 54.54 pence Thursday afternoon.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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